Atlanta was selected by the USOC over bids from Nashville, San Francisco and
runner-up Minneapolis to be the U.S. representative in international bidding.
The initial push for 1996 coming to Atlanta came from Billy Payne and then
Atlanta mayor Andrew Young, former US ambassador to the UN and Atlanta mayor
Andrew Jackson touted Atlanta's civil rights history and reputation for racial
harmony. Young also wanted to showcase a reformed American South. The strong
economy of Atlanta and improved race relations in the South helped to impress
the IOC officials. The Atlanta Committee for the Olympic Games (ACOG) also
proposed a substantial revenue-sharing with the IOC, USOC, and other NOCs.Source:
https://en.wikipedia.org/wiki/Bids_for_the_1996_Summer_Olympics

The
logo of the Atlanta 1996 Summer Olympic Games is described as follows:
"The base of the torch mark logo, made of the five Rings and the number 100,
resembles a classical Greek column and recognizes the centennial of the Games.
The torch mark's flames gradually evolve into a perfect star symbolizing each
athlete's pursuit of excellence. The gold colour in this logo represents gold
medals. The green represents laurel branches worn by winners in ancient times,
as well as Atlanta's reputation as the City of Trees."Source:
http://www.olympic.org/atlanta-1996-summer-olympics
Esteban Rivera, 07 February 2016

An Ebay offer shows a
waver with that design: Five capital letters A, styled in a way that is
reminiscent of people, and coloured in the colours of the Olympic Rings, form a
circle with almost touching "hands",with black at the top, then continuing
around the clock with red, green, yellow, and blue, below this the word
"Atlanta" in blue, and below that "1996" in blue but spaced to be as wide as the
name, and at the bottom the Olympic Rings, rather small, all on a white field.
The reverse of the flag shows the reverse of the design.
If the current rules or bid flags were already valid - I don't see if/where we
mention those - then this would have to be a candidate flag, as it uses the
Olympic Rings.
I include small versions of the photographs to show the design. (Obverse
- Reverse)
I think it's a single shade of blue, throughout, rather than separate shades in
different elements. I'm not really sure if it's the same blue of the Olympic
flag, but I do think it should be only one shade. The same for all six colours,
I guess.
Peter Hans van den Muijzenberg, 07 February 2016

Indeed that is the official bid
logo. They were organized by the Atlanta Olympic Committee. The flag is seen
here being waived with the logo at 9:40 in this
video. Esteban Rivera, 07 February 2016

At eBay is being offered an "Ultra
RARE Olympic Games Olympic Bid Toronto '96 Flag". I don't know about the "Ultra
RARE" bid, as it isn't the first time I see one offered, and since the current
bid for this one is only nine dollar. Does anyone know how far Toronto came with
this design?Peter Hans van den Muijzenberg, 24 June 2014

The
Toronto bid logo but in a different color scheme.Esteban Rivera, 07 February 2016